Encouraging those who want to live and invest in the UK
Non-doms will be able to remit income and/or Capital Gains Tax free for the purpose of commercial investment in UK businesses.
Monthly Archives: May 2011
The key announcements from the Chancellor’s second Budget speech
Economy
The independent Office for Budget Responsibility (OBR) forecasts growth of 1.7% (down from 2.1%) for 2011, 2.5% next year, 2.9% in 2013, 2.9% in 2014 and 2.8% in 2015 (this compares to OECD forecast of 1.5% for 2011 and 2.0% for 2012).
Economy and public finances
Growth forecasts over the medium term revised slightly upwards
The Office for Budget Responsibility (OBR) forecast for 2011 economic growth was revised down to 1.7% from 2.1% as published in November 2010. In contrast, the economic growth forecasts over the medium term have been revised slightly upwards from 2.8% to 2.9% in 2014 and 2015.
Planning for growth
Creating a tax system that is more supportive of business investment
The Chancellor George Osborne delivered his plan for growth, announcing some significant steps towards creating a tax system that is more supportive of business investment and growth.